05Mar2021 Pre-Market Commentary: Huge Payrolls Push Wall Street To Open Higher, DOW Futures Up 100 Points, Nasdaq Down -0.2%, WTI Crude Higher 65.35, US Dollar Rises 91.88, Gold Below 1700
Heading into today's closely watched payrolls report which as we reported earlier was expected to show a sharp improvement in the labor market, it seemed that stocks were faced with a lose-lose dilemma: a strong number would boost inflation fears further, sending yields higher and crashing stocks; a bad number and the recovery narrative would be hammered as virus fears returned, hammering stocks. So as traders were busy navigating this tricky mind maze, moments ago the BLS reported that as expected, in February the jobs picture improved dramatically, with the US adding a whopping 379K jobs, n...